Saturday, October 10, 2009

Are all Wall Street Analysts loudmouthed braggarts?

I had an interesting conversation last week with the Mecca's single largest investor. The Evil Wall Street Analyst (EWA). My first encounter with EWA was about six months ago. He had been working for an investment firm in New York as their biotech analyst, and had somehow gotten in touch with one of the Mecca's other investors (who is an anti-biotech analyst) and was convinced that the Mecca's product was the next best thing since sliced bread.

Swiper had placed a press release saying that we had just shipped our alpha prototype right before trying to raise more capital. Of course, I remember the Chief Scientific Officer giving the Mad Man from Down South a big hug in congratulations. Perhaps this was his attempt at sarcasm, since we still had most of the pieces of said alpha prototype on the bench. That is not to mention the ones that hadn't been fabricated yet.

Anyway, EWA told his boss to put all of his chips in. EWA also threw in a million or two of his own money. He's rich, but he's not Warren Buffet. It's still a significant amount of money. Imagine his level of mirth when he discovered that we hadn't shipped Jack. Actually, we decided to name alpha prototype 1 Luke, not Jack.

He called up Swiper and said that he was coming for a friendly visit. Worried that the Mad Man from Down South would spill the beans, (and provided with a convenient excuse) Swiper sacked the Mad Man from Down South. (That, my friends... is another story.) The Mad Man met with the investors and spilled the beans anyway. The next day, EWA came in and met with almost every employee of the company. The engineering meeting went like this:

EWA: Those f*ckers gamed me!
(Note: He used this exact phrase)
EWA: The Biologists: Are they useful?
Sarcastic Brit: Nope: I'd fire every last one of them.
EWA: None of the are worth keeping?
Sarcastic Brit: Nope.
EWA: How do you think the company is doing?
Sarcastic Brit: Is it possible to close the place down and start over?
EWA: Does anybody here own stock in the company?
Everybody shakes head no.
Harbinger: I have some options that are at least a buck underwater - and those are the cheap options I have. Perhaps I should exercise them and lose a crap load of money.
EWA: Just imagine if you had actually put money in.
Sarcastic Brit: Sucks to be you.

At this point EWA handed out his business card and invited us to call him and discuss anything we wanted - off the record of course.

After the "official meeting" EWA took the Sarcastic Brit and myself aside and told us that he would fix the company. After all, he had done this before, and had a lot riding on it. All we had to do was hold on until he had fixed everything. This was last May. He promised us riches beyond our wildest dreams. Well, at least they hadn't missed payroll yet.

1 comment:

  1. I think we both laughed at him before I scraped myself off the floor and said that "it sucks to be u" ( I think I am getting the hang of these colloquilisms)

    ReplyDelete